Australian Governance & Ethical Index Fund
Walsh & Company Asset Management has launched the Australian Governance & Ethical Index Fund (AGM), which will invest in companies with a strong ethical, corporate social responsibility and environmental focus.
The fund will invest in 75 to 85 stocks, selected from the top 100 companies on the ASX. It is a restructured version of the Australian Governance Index Fund Limited (AQF). Walsh & Company restructured that fund from a listed investment company to the new listed investment trust, and to extend the investment mandate to include ethical and social considerations.
The managers of the Australian Governance & Ethical Index Fund believe "that companies which exhibit superior governance, social and environmental practices operate with a more sustainable and robust business model, delivering stronger financial performance and resultant shareholder value over the longer term."
The fund has a total expense ratio of 0.19% per annum.